Inclusive growth

Source: Wikipedia, the free encyclopedia.

Inclusive growth is economic growth that raises standards of livings for broad swaths of a population.[1][2][3][4] Proponents for inclusive growth warn that inequitable growth may have adverse political outcomes.[5]

The definition of inclusive growth implies direct links between the

gross national product (GNP) or gross domestic product (GDP), total factor productivity, and aggregate factor inputs.[6]

standards of living.[7]

Barriers

It is widely accepted that inclusive growth is practically challenging to be achieved in real world.[8] On the one hand, there is a lack of a comprehensive and worldly recognised set of standards to systematically measure the inclusiveness of growth, which makes data collection and policy evaluation difficult.[9] Both the intangibility and long term perspective make it less desirable than other more conspicuous economic targets for policymakers.[10] On the other hand, as pointed out by some detractor, many negative externalities of growth are fundamentally at odds with the target of inclusiveness,[11] which further makes the situation complex. In many real life cases, inclusiveness carries much less weight than economic growth itself, and sometimes sacrificed thoroughly.[12][13][14]

See also

References

  1. ISBN 978-0-19-284693-8
  2. ISSN 1812-108X. Retrieved 13 January 2015. {{cite journal}}: Cite journal requires |journal= (help
    )
  3. ^ Anand, Rahul; et al. (17 August 2013). "Inclusive growth revisited: Measurement and evolution". VoxEU.org. Centre for Economic Policy Research. Retrieved 13 January 2015.
  4. ^ Anand, Rahul; et al. (May 2013). "Inclusive Growth: Measurement and Determinants" (PDF). IMF Working Paper. Asia Pacific Department: International Monetary Fund. Retrieved 13 January 2015.
  5. ISBN 978-0-19-284693-8
  6. ^ Elena Ianchovichina and Susanna Lundstrom, "What is Inclusive Growth?", The World Bank, February 10, 2009.
  7. ^ Elena Ianchovichina and Susanna Lundstrom, 2009. "Inclusive growth analytics: Framework and application", Policy Research Working Paper Series 4851, The World Bank.
  8. ISSN 0034-3404
    . Retrieved 16 January 2024.
  9. PMID 31372475
    .
  10. ^ Kamran, Muhammad; Rafique, Muhammad Zahid; Nadeem, Abdul Majeed; Anwar, Sofia (2023). "Does Inclusive Growth Contribute Towards Sustainable Development? Evidence from Selected Developing Countries". Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement. 165 (2): 409–429. Retrieved 16 January 2024.
  11. ^ Devarajan, Shantayanan. "The future of inclusive growth". Brookings. Retrieved 16 January 2024.
  12. ^ "The case for inclusive growth | McKinsey". www.mckinsey.com. April 28, 2021. Retrieved 16 January 2024.
  13. S2CID 157583912
    . Retrieved 16 January 2024.
  14. ISSN 2227-7099
    .
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